Parsons Capital Management Inc. RI Has $2.49 Million Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Parsons Capital Management Inc. RI decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,975 shares of the business services provider’s stock after selling 1,649 shares during the period. Parsons Capital Management Inc. RI’s holdings in Omnicom Group were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OMC. ST Germain D J Co. Inc. acquired a new stake in Omnicom Group in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc boosted its position in Omnicom Group by 645.2% in the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock valued at $27,000 after buying an additional 271 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Omnicom Group in the third quarter valued at approximately $33,000. Davis Capital Management acquired a new stake in Omnicom Group in the third quarter valued at approximately $36,000. Finally, HM Payson & Co. boosted its position in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OMC. UBS Group lifted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie reiterated an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. Barclays cut their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wells Fargo & Company lowered their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Stock Up 1.1 %

Shares of NYSE OMC opened at $87.49 on Monday. The stock has a market capitalization of $17.07 billion, a P/E ratio of 11.91, a P/E/G ratio of 1.88 and a beta of 0.98. The company has a 50-day moving average price of $91.65 and a 200-day moving average price of $96.44. Omnicom Group Inc. has a 1 year low of $81.42 and a 1 year high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 38.25%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.